Hydroelectric power plants owned by Azerenergy (national manufacturer and distributor of electricity in Azerbaijan) were not insured because of the high cost of these services, head of the company Etibar Pirverdiyev said on Oct. 20.
"Our hydroelectric power plants are not insured for certain reasons. Hydroelectric power plants cost very expensive, especially hydro-technical equipment is expensive, and respectively by means of local insurance companies we can not insure them, so these risks can be transferred only to the reinsurance outside the country that we are unable to do today," said Pirverdiyev.
He said that the best insurance policy is correct operation.
In order to ensure safety of hydroelectric power plants, the company constantly monitors use of special devices, and they are kept under control, said Pirverdiyev.